Based on 27 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SELV than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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At the ownership peak (100% of max)
100% of all-time peak
27 hedge funds hold SELV right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Steady growth — +12% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 71% buying
17 buying7 selling
Last quarter: 17 funds were net buyers (5 opened a brand new position + 12 added to an existing one). Only 7 were sellers (7 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 4 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 33% entered in last year
■ 7% conviction (2yr+)
■ 59% medium
■ 33% new
Only 2 funds (7%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Steady discovery — ~5 new funds/quarter
6 → 4 → 1 → 4 → 5 new funds/Q
New funds entering each quarter: 4 → 1 → 4 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 4% veterans, 44% new entrants
■ 4% veterans
■ 52% 1-2yr
■ 44% new
Of 27 current holders: 1 (4%) held 2+ years, 14 held 1–2 years, 12 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
6 of 27 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.